Anyway, they´re the biggest in the world, most trusted in the world, dedicated to transparency and maximizing profits for the customers. All according to themselves and all lies. So the obvious question is how much of the hash they´ve sold is actually mining?

They are real, they mine and they deliver payouts.

The problem is those payouts will NEVER EVER get you ROI. Even if they do, your profits after that will be so low, due to diff growth in the meantime, that all you achieved was lending money to GM at no interest at all so they can build their farms and make more money.

For them, an excellent business model. For you, total disaster.

Yeah well, I´ve actually mentioned this many times here this year. I don´t doubt that they have some mining going what I find interesting is that they can´t disclose the volume of that mining, the hashpower they control. The blocks they find are a closely guarded secret. So much for "dedication to transparency".It´s just we´re the biggest and best and everybody loves us because we´re so honest and transparent. Well, I call bullshit. It should be easy for them to prove me wrong if they can. Let´s see what we´ll see.

For those interested, here is the "guesstimated" balance and history of the Genesis Mining hot wallet (guesstimated through taint analysis), figures in BTC, aggregated by day.

Keep in mind these are not accurate figures, but a "probable under-estimation", the taint analysis will miss some addresses, some change addresses, etc.

What stayed a tranquil but slow growing operation apparently changed gears a few months ago. What this means -or not- is anybody's guess.

Individual spikes are mostly movements to & from a large wallet with addresses all beginning with '3' (Bitfinex cold wallet/proof of reserve maybe? not sure, richest address of that wallet is 394p1k5wfY96hQXgppDFvmVUAJfhQaNHu8).

Still no word from GM..... If it really is a technical issue we should've heard from them by now.

Maybe we should tip a BTC-news-site like Coindesk, maybe if they ask GM what's up there will be an answer. If GM is really ponzi-ing out on us we should get the news out ASAP to prevent new customers losing their money.

Edit: Got a reply on my ticket, here it is:

Quote

What you are seeing is the effect of the rise in difficulty in relationship to current Bitcoin value and the maintenance fee. You have quite a few contracts, with different fee's, and a lot are the old contracts with a fee of 0.002USD per GHs per day. Those contracts are barely returning anything, or are in fact negative. It should be easily checked by using online Bitcoin calculators (inaccurate as they are, they do give clues still). A quick look shows me you have like 6.25 THs of hashrate with the 0.002 fee.Coinwarz says that that amount could mine around $12.50 per day. See http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=6250&p=0&pc=0&pf=0.00&d=59335351233.86660000&r=25.00000000&er=236.10000000&hc=0.00Maintenance fee is 6250 GHs * 0.002 = $12.50

In short, that part of your hashrate is not providing earning anymore, if not negative in earnings. Difficulty still has a tendency to go up, and Bitcoin value does not seem to want to go up right now, so at this moment I see no improvement for those contracts. Wish I had better news for you, but unfortunately this is the way things are.

Doesn't really explain why the payments suddenly fell so sharply while price rose (a little) in the same period.

UNO is merge mined if so all those who are mining bitcoin should also receive part of UNO too if i am not wrong !!

Most merge mining places I have seen end up paying BTC. Onces that have BTC NMC Doge on it combined all and sell automatic and get no option to keep the alts. Theirs a few pools that do pay the alts separate if want to sell them at a later date but its next to nothing unless you got a big chunk of hash power.

Without the ability to resell your shares/machine/whatever you should never buy into a "cloud" operation.

You've nailed it! I went against my own better judgment and bought a hash contract while knowing there was no way to get out. I basically did it as a test to see how long it would run with steady payouts but dang, it started falling apart after only 25 days! I thought if this was legit it might last a little more than a year. I knew I would need 2 years to come close to ROI so I was okay with doing this as a test but I didn’t realize I was going to lose my whole investment before the end of the first month. I thought I was sharper than that!